Smoke, mirrors, and a dead CEO: Who’s hiding what in the Markus Jooste death mystery?
The Silence of Authorities: Investigating the Death of former Steinhof CEO Markus Jooste
Image: Aemand Hough
It has been over a year since the mysterious death of former Steinhoff CEO Markus Jooste. Yet, questions surrounding the circumstances of his demise remain unanswered, sparking concerns about the authorities' lack of transparency.
The South African Police Service (SAPS) has maintained silence on the investigation, offering no updates or explanations about the case.
Officially, Jooste was said to have died by suicide last year, but details remain scarce.
Reports indicate that Jooste succumbed to a gunshot wound at his Cape Town residence in Hermanus, but crucial questions linger:
Were witnesses present? Was a proper investigation conducted? And what do the post-mortem reports reveal?
A day before his death, Jooste was under intense scrutiny from the Financial Sector Conduct Authority (FSCA), which had imposed a R475 million administrative fine on him for accounting irregularities linked to his former company, Steinhoff.
The fallout from the scandal had already shaken South Africa’s financial sector, with allegations that Jooste’s actions had jeopardised billions of rand in public funds.
Deputy Secretary Sipho Shange expressed concern over “the unresolved questions surrounding Jooste’s death” and the broader implications for public accountability.
“Jooste was involved in compromising the Public Investment Corporation (PIC) funds, amounting to R200 billion belonging to the Government Employees Pension Fund (GEPF),” Shange stated.
“The Steinhoff scandal was a national issue, yet we have no answers about what happened to those pension funds.
“The public deserves transparency and accountability—and the silence from authorities raises suspicion.”
Shange further criticized the silence of labor unions, which traditionally advocate for workers’ rights and oversight in such matters.
He argued that their inaction may have contributed to the ongoing economic crisis, asserting that the loss of investment confidence and subsequent budget deficits have directly impacted ordinary citizens.
Adding to the concerns, Mary de Haas, a renowned crime expert and violence monitor, pointed out the broader issues of accountability and the integrity of investigations.
She said provincial police commissioners have the authority to expedite inquiries but have seemingly done little to resolve the case or uncover the truth.
“The only way to find out is through the post-mortem report, but access to such crucial documents is often denied or delayed. Without it, we are left to speculate.”
De Haas also highlighted the broader pattern of disappearances and unexplained deaths linked to political and financial scandals in South Africa, raising fears that some cases might be deliberately obscured to protect powerful interests.
As of the last official update to IOL early this year, Western Cape then acting police spokesperson Colonel Andre Traut confirmed that the case remains under investigation, with no new developments reported.
Once a prominent business mogul, Jooste’s career was marred by scandal, culminating in the exposure of fraudulent activities that cost the South African economy nearly R200 billion.
His death has left many questions about the stewardship of public funds and the accountability of those entrusted with South Africa’s economic stability.
As the 13-month mark passes, the public, civil society, and victims of financial misconduct continue to demand answers.
However, the silence from authorities only deepens suspicion, highlighting the urgent need for transparency in uncovering the truth behind Markus Jooste’s death and safeguarding public trust.
National police spokesperson Athlenda Mathe and the Western Cape police spokesperson Brigadier Novelwa Potane did not respond to IOL.
thabo.makwakwa@inl.co.za
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